{
  "id": 18495936,
  "title": "Crypto heavyweight Solana eyes Hong Kong expansion to tap growing tokenisation demand",
  "url": "https://urgent.news/2026/11/06/crypto-heavyweight-solana-eyes-hong-kong-expansion-to-tap-growing-18495936",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T12:03:24.000Z",
  "source": {
    "name": "SCMP Tech",
    "slug": "scmp-tech",
    "url": "https://www.scmp.com/business/cryptocurrency/article/3373582/crypto-heavyweight-solana-eyes-hong-kong-expansion-tap-growing-tokenisation-demand"
  },
  "original_language": "en",
  "account": "Solana, a leading blockchain network, is set to expand its presence in Hong Kong to capitalize on the city's burgeoning tokenisation market, according to a senior executive. Joseph Chee, Solana's CEO and chairman, stated in an interview in Hong Kong that he believes the Asia-Pacific region holds the greatest potential for growth for the company. Founded in the United States in 2018, Solana has gained popularity as a cryptocurrency, with a market capitalization of approximately US$53 billion, making its native token the seventh-largest in the world, according to CoinMarketCap. The Solana Foundation, established in 2020, oversees the blockchain network, while the Solana Company, listed on Nasdaq, focuses on acquiring and holding Solana tokens and providing investors with direct exposure to the cryptocurrency. In Hong Kong, the company has positioned itself as a digital asset infrastructure and service provider, recently being recognized by the city government's Office for Attracting Strategic Enterprises as a \"strategic enterprise.\" Solana Company plans to leverage its Hong Kong operation, which will also serve as its new Asia-Pacific headquarters, to explore how digital asset infrastructure can support financial institutions in the city. With Hong Kong identifying tokenisation as a critical area of financial technology development, the company aims to understand the potential of digital assets in contributing to the city's financial sector. Julia Leung Fung-yee, the CEO of the Securities and Futures Commission, mentioned at the Hong Kong FinTech Week earlier this year that 17 tokenized retail products have been authorized, with total assets under management reaching US$1.3 billion, a 34% increase from the previous year. Despite Hong Kong's progress, Chee noted that the United States is advancing more rapidly in tokenization, with many major financial institutions in Hong Kong just beginning to consider or initiate tokenization projects. Solana Company plans to expand its Hong Kong team to around 30 employees from the current approximately 10, as the company expects to have a clear understanding of the market within six months. If no significant tokenization service providers emerge in the city within that timeframe, the company may establish a team to meet the demand from local banks.",
  "summary": "Solana, one of the world’s largest blockchain networks, plans to expand in Hong Kong to tap the city’s growing demand for tokenisation, according to a senior executive. “I believe that the biggest opportunity for Solana is actually in [the Asia-Pacific region],” Solana Company chairman and CEO Joseph Chee said in an interview in Hong Kong earlier this week. Founded in the US in 2018, the company…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
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        "url": "https://urgent.news/2026/11/06/world-in-brief-tech-stocks-lose-2-5tn-paraguay-president-resigns-dr",
        "published": "2026-11-06T03:43:56.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Singapore leads Hong Kong in private markets allocation, but fewer investors are raising exposure",
        "url": "https://urgent.news/2026/11/06/singapore-leads-hong-kong-in-private-markets-allocation-but-fewer",
        "published": "2026-11-06T05:54:38.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "China, Hong Kong stocks tumble as global tech selloff deepens",
        "url": "https://urgent.news/2026/11/06/china-hong-kong-stocks-tumble-as-global-tech-selloff-deepens",
        "published": "2026-11-06T06:04:08.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}